All Forum Posts by: Jack Middleton

Since this thread has already started with CPAs,,,,,  I am looking for Investor friendly CPA's in Southern Indiana.  Anyone have experience in this area?

@alexander Felice

Thanks for the information.  My wife bought the first one before we got married (about 3 years ago).  I bought the one we are in now... about 2 months ago, and we got another just now jointly.  We don't yet have the fourth, but I was wondering how to go past that.

@Shaun Weekes

Thank you for that.  At least now I know that it is doable without some voodoo.

Thanks again guys.

Hi all,

I know that there is probably some posts on this somewhere (I think I read one or two a while back), but I have this nagging question on how to obtain more than four properties. My wife have a newly formed LLC and we hope to have the LLC purchase properties. We have 3 now and I really don't understand the mechanics of owning more than the limit imposed by lenders.

Any advice will be appreciated.

Thanks in advance,

Cheryl and Jack

I am interested in buy and hold in the Hagerstown area.

Can I PM you?

I look forward to networking with people in Maryland.

Ahhhhh...

Thanks @Zach Quick

That makes sense.

Gotta get more!!!  if I could get over the hump perhaps it would be easier.  The old catch-22.  :-(

thanks @Carin Kveton

Thank you for the information.

I did take my signed lease to speak with the lender last week because I thought that the rent and the positive cash flow would help with my loan.  She told me that it would need to show up on my tax return before they could count it.  But I got the feeling that she is someone I can work with after the 'one year or so' has passed with my income from the rental. 

It sounds like you have found a good lender that has common sense. 

Thanks again for that response.  It is helping me understand the process.  I appreciate your explanation.

Jack

Hi everyone.  I know the answer is probably somewhere on this site, but I have searched for answers and I don't know why I can't seem to get my head around this issue.

My wife and I have a rental, in her name (started renting as of this month) and I, hopefully, will be closing soon on another in my name.  My debt to income is at the limit since the house we are living in is in my name.  My wife hasn't worked in some time and she has excellent credit.  We asked the loan officer about her getting another in her name, but she has no W2 job.

My question is this-

How do people with no job end up buying multiple properties?  Some people who speak of their success with real estate may have never worked in their lives.  So I am having a hard time grasping that concept.

Are there any places that I can go get a detail on how this is done.  I know there are some things going on like 'seller financing', but I can't seem to grasp why this would work or how to find these people.  I have seen some web casts that explain some of this, but it seems to be in general terms and I would like to be able to learn something practical.

Hi Kevin.

I have a template that I found some time ago.  Seems to be a rental real estate startup, but it can be tweaked somewhat (that is what I planned to do, but I got busy trying to get a couple houses).  PM me and I can get it to you.

Jack